House Republicans are now investigating President Biden’s attempt to sell America’s Strategic Oil Reserves to China.
Even though oil and gas prices hit a record high at home, the Biden administration sold more than five million barrels of oil to the Netherlands, India, and China.
Biden Sold US Strategic Oil to China
Seven GOP lawmakers wrote a letter to Biden, stating the current administration wants to use SPR as a “stopgap for your policies.”
Furthermore, the letter mentioned that America is selling the SPR to China at a time when China is one of the prominent US international adversaries.
Accusing Biden of disregarding the historic opportunity to make America energy independent, Republicans added Biden could have stopped the global energy crisis by increasing America’s domestic oil production.
It would have helped Europe not to depend on Russian oil markets. Apart from this latest sale, the Biden administration also exported nearly four million barrels of oil to China in October and November last year.
Natural Gas reserves are dwindling faster than we can produce. #USA recession imminent.
How can inflation subside when demand hasn't wavered due to lack of supply?
Biden is selling oil to China and democrats blocked the Republicans trying to stop the sale. https://t.co/zMWjVrrnka pic.twitter.com/whXevVo5zT
— The Butcher of Wall Street | Marcel Kalinovic (@BossBlunts1) July 21, 2022
Biden is selling the strategically important oil to China at a time when China is already building its own strategic reserves by purchasing low price oil from both Russia and Iran, the letter noted.
This is the reason, Republicans continued, why Chinese reserves have increased from 869 million barrels in March to 926.1 million barrels today.
Now, as the sale already happened, the GOP lawmakers urged the White House to scrutinize a “trove” of documents to find out if the administration is selling US oil to other foreign adversaries.
In the letter, the lawmakers also slammed Biden for his radical energy policies, which are responsible for the oil crisis in the United States.
They reminded him about his executive orders in the first week of his office, which banned federal oil and gas leasing contracts, curbed oil drilling in various areas, and revoked the landmark Keystone XL Pipeline project.
So this is why Covid Joe is selling US oil to China!!! looks like he’s Building China Back Better!!! 😡
House Republicans want answers about oil sale to Hunter Biden-linked China co. https://t.co/XCDFKSuzLk
— Frannie Trump❤️ (@frances0523) July 21, 2022
Biden Admin Defended Radical Oil Selling Policy
Speaking to the Washington Free Beacon, Congressman Ronny Jackson noted Biden is sending oil to the Chinese Communist Party as Americans are struggling to put gas in their vehicles.
The SPR of the country stands at a historically low level.
Likewise, Jackson established this attempt of the president would fail America in case of a major national security threat, since SPRs are supposed to be used in case of national security emergencies like war.
After receiving the letter, the White House retaliated.
Calling the accusations “ridiculous and false,” special assistant to President Biden, Ian Sams, told Fox News that Republican lawmakers should “examine some basic facts” to know the real reasons for sending oil to China.
According to Sams, the US Energy Department was “required by law to sell it (oil)” to the “highest bidder,” even if it was a foreign company.
In addition to that, Sams noted the previous administration also sold oil SPRs through a “competitive bidding process.”